Avdoo & Partners Development Leases Retail Space To Overgreens At 22 Old Fulton Street Brooklyn
22 Old Fulton Street
$250
$250/SF
Building Size
1,350 SF
Asset Type
Retail
Closing
Jan 6, 2025
AI
The property asset involved in this transaction is a retail space located at 22 Old Fulton Street in Brooklyn. The leased area measures 1,350 square feet, with an asking rent of $250 per square foot. The lease is a Modified Gross Lease, with a term set for 10 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $250/ft
- Square Footage: 1,350
- Address: 22 Old Fulton Street
- Market: Brooklyn
- Landlord: Avdoo & Partners Development
- Tenant: Overgreens
- Landlord's Representative: Thomas Galo - Winick Realty Group
- Tenant's Representative: Kim Levandovsky - Retail By Mona
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
The deal features key individuals including Thomas Galo representing the landlord, Avdoo & Partners Development, and Kim Levandovsky representing the tenant, Overgreens. Their involvement highlights the significance of professional representation in the leasing process.
Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
63452.00%
Cash-on-Cash
-18134.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93